Hapag-Lloyd has signed contracts with two Chinese shipyards for 24 new containerships worth US$24 billion.

Yangzijiang Shipbuilding Group will build 12 new buildings, each with a capacity of 16,800 TEU. These units will expand the capacity of services already in place.

An additional 12 ships, each with a capacity of 9,200 TEU, have been ordered from New Times Shipbuilding Company Ltd. and will replace older units in the Hapag-Lloyd fleet that will be nearing the end of their service life in this decade.

Hapag-Lloyd said all of the new buildings will be equipped with low-emission, high-pressure liquefied gas dual-fuel engines that are extremely fuel-efficient and could also be operated using biomethane, which can reduce CO2e emissions by up to 95% compared to conventional propulsion systems.

The new ships will also be ammonia-ready.

Hapag-Lloyd will take delivery of the new vessels between 2027 and 2029, and new buildings will have a combined capacity of 312,000 TEU.

Hapag-Lloyd said the new orders involve a combined investment volume of around US$4 billion, of which US$3 billion has already been committed through long-term financing.

"This investment is one of the largest in the recent history of Hapag-Lloyd, and it represents a significant milestone for our company as it pursues the goals of its Strategy 2030, such as to grow while also modernizing and decarbonizing our fleet," said Rolf Habben Jansen, CEO of Hapag-Lloyd AG.

"Operating a fleet of more efficient vessels will also enhance our competitive position, and thanks to the increase in capacity, we will continue to offer our customers a global, high-quality product," he added.

Hapag-Lloyd has committed to the 1.5-degree target of the Paris Agreement. By 2030, the absolute greenhouse gas emissions of the company's fleet operations are to be reduced by around one-third compared to 2022—another step toward net-zero fleet operation by 2045.

Hapag-Lloyd said this goal will be achieved by investing in modern, efficient new buildings, slow steaming, fleet modernization and the use of new propulsion technologies and alternative fuels. This will allow customers to benefit from multiple green transport options simultaneously.

Hapag-Lloyd controls 287 modern container ships with a total transport capacity of 2.2 million TEU.